NZDUSD Down 4 Pips On Hourly Chart; 3 Day Down Streak Broken

Hourly Update

(Last Updated January 13, 2021 2:23 GMT)

Currently, NZDUSD’s rate is down -4 pips (-0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDUSD has now gone up 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NZDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of NZDUSD’s 3 day down streak; price ended yesterday up 52 pips (0.72%) to finish the day at a rate of 0.72124. Out of the 40 instruments in the Forex asset class, NZDUSD ended up ranking 4th for the day in terms of price change. Below is a price chart of NZDUSD.

NZDUSD

NZDUSD Technical Analysis

Notably, NZDUSD is now close to its 20 day averages, located at 0.7154 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days.